On this page, We are going to learn about the full form of EPFO and the meaning of EPFO, As well as the meaning, definition, and acronym for EPFO in different categories. So you should read this post till the end.
Full Form of EPFO: Employees’ Provident Fund Organisation
EPFO Stands for Employees’ Provident Fund Organisation. EPFO is a government-run statutory funding body for employees in the organized sector in India. It is a body that provides funds to employees in the form of a Provident Fund.
The Employees’ Provident Fund Scheme was set up in India by Labour Code, of 1948. The main objective of the Employees’ Provident Fund is to provide retirement benefits and old-age benefits to employees working in the organized sector.
Functions of EPFO
EPFO encourages saving and investment, and ensures the payment of interest and dividends from the Provident Fund to its members. The EPFO is a statutory body under the Indian government and is headquartered in New Delhi, India.
The EPFO functions under the Ministry of Labour and Employment in the Union Government of India. The main objectives of the EPFO are to maintain the health of the Provident Fund and provide social security to its members.
Objective of EPFO
The Employees’ Provident Fund Organisation is a social security institution in India that provides retirement, provident and medical benefits to employees. The organization is under the Ministry of Labour and Employment, Government of India.
The EPFO was established in the year 1938 and it is a government-run body. The primary objective of the organization is to provide retirement, provident and medical benefits to the employees.